Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Stock Position Raised by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division lifted its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,525 shares of the medical equipment provider’s stock after purchasing an additional 1,000 shares during the period. Central Pacific Bank Trust Division’s holdings in Zimmer Biomet were worth $1,534,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. American Century Companies Inc. lifted its stake in Zimmer Biomet by 12.6% during the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares in the last quarter. Geode Capital Management LLC boosted its stake in Zimmer Biomet by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after purchasing an additional 125,852 shares during the period. Van ECK Associates Corp grew its position in Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after purchasing an additional 411,163 shares in the last quarter. Victory Capital Management Inc. raised its stake in Zimmer Biomet by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock valued at $365,163,000 after purchasing an additional 211,637 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Zimmer Biomet by 0.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after purchasing an additional 9,990 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZBH has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Oppenheimer dropped their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Raymond James decreased their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Wolfe Research started coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Finally, Evercore ISI lowered their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $123.33.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH traded down $0.48 during trading hours on Friday, hitting $103.98. 516,760 shares of the stock were exchanged, compared to its average volume of 665,956. The firm has a market capitalization of $20.70 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.96 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a one year low of $101.47 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The company’s 50 day moving average is $108.33 and its 200 day moving average is $108.19.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a $0.24 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. Zimmer Biomet’s dividend payout ratio is 18.25%.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.